Smith Insurance

What Smith Insurance does

Smith Insurance is an independent insurance agency headquartered in Niantic, Connecticut, providing personal lines and commercial insurance products to customers across Connecticut and Rhode Island. Founded in 1938 and operating as a private firm with 11-50 employees, the agency operates a traditional community-brokerage model, distributing insurance products on behalf of carriers to individuals and businesses in its two-state service area. The firm maintains a web presence at smithins.com and has sustained continuous operations for over 85 years, reflecting a stable, relationship-driven distribution channel rather than a technology-led or rapidly scaling platform.

The agency's business model is commission-based brokerage, earning revenue as an intermediary between insurance buyers and carriers. The firm serves a long tail of individual policyholders (personal auto, homeowners, and related personal lines) alongside small and mid-sized commercial accounts, with no disclosed specialization in niche verticals such as cyber, captive, or executive liability lines that larger brokers emphasize. Its scale is small (11-50 employees) and its geographic footprint is limited to CT and RI, positioning it as a localized incumbent rather than a multi-state or national distributor. No technology stack, proprietary platforms, AI/ML capabilities, digital channels, or partnerships are documented in the source material, indicating an operation reliant on conventional broker-customer-carrier workflows. The firm's longevity, dual-state presence, and absence of disclosed strategic transactions (no funding rounds, no acquisitions, no leadership changes in the data) point to a steady-state operating profile rather than a growth-investment phase.

Name

Smith Insurance

Legal name

Brown & Brown

Website

http://www.smithins.com/

Company type

Public

Founded year

1938

Operating status

Operating

Headcount range

11–50 employees

Short description

Smith Insurance is an independent insurance agency in Niantic, Connecticut, providing personal lines and commercial insurance products to individuals and businesses across Connecticut and Rhode Island. Founded in 1938, the firm operates as a small, privately held community brokerage.

Ownership category

akta.pro rank

Headquarters

HQ city

Niantic

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Insurance Brokerage Commissions: Brown & Brown earns commissions from placing insurance policies on behalf of clients with insurance carriers. As a brokerage, they act as intermediaries between insurance buyers and insurers, earning commissions based on policy placement.
2. Consulting Services Fees: The company generates revenue from various consulting services including actuarial services, healthcare claims audit services, health and welfare consulting, mergers and acquisitions consulting, pharmacy consulting, and retirement benefits consulting.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels9 records

Core offering

Smith Insurance is an independent insurance agency that provides personal lines and commercial insurance services to individuals and businesses in Connecticut and Rhode Island. The agency places insurance coverage with carrier partners on behalf of its clients, operating from a single location in Niantic, CT since its founding in 1938.

Product overview

Brown & Brown is an insurance and risk management brokerage offering a comprehensive portfolio of insurance solutions and consulting services. The company operates as a platform-plus-services model comprising three core insurance segments (Property & Casualty, Employee Benefits, and Personal Lines) supplemented by specialized insurance solutions including Captive Insurance, Cyber Insurance, Casualty Insurance, Environmental Liability Insurance, Executive Liability Insurance, Financial and Wealth Services, Multinational Liability Insurance, Property and Risk Management Solutions, Surety Bonds, and Trade Credit Risk Solutions. The consulting arm provides Actuarial Services, Healthcare Claims Audit Services, Health and Welfare Consulting, Mergers and Acquisitions Consulting, Pharmacy Consulting, and Retirement Benefits Consulting. Risk Management Services including loss control, safety services, risk analytics, and Pro Safety training round out the offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Lines Insurance

Segments22 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves2 records

Expansion highlights2 records

Direct peers

• Cross Insurance: Regional New England insurance brokerage headquartered in Maine with significant Connecticut and Rhode Island presence. Directly comparable to Smith Insurance as a multi-line personal/commercial agency operating in the same New England geography, though at a larger scale following its rollup of regional agencies.
• Starkweather & Shepley Insurance Brokerage: Rhode Island-based insurance brokerage with deep roots in RI and surrounding New England markets. Closely comparable to Smith Insurance as a long-standing, family-influenced regional agency serving both personal and commercial clients in the same core CT/RI territory.
• The Hilb Group: Mid-Atlantic and Northeast-focused insurance brokerage that has aggressively rolled up regional personal and commercial agencies. Highly comparable as a competing acquirer and operating model for sub-50-person CT/RI agencies like Smith Insurance.

Broad incumbents

• Hub International: Large North American insurance brokerage with substantial New England operations following numerous regional acquisitions. Comparable as a much larger incumbent offering similar personal and commercial brokerage services to the same CT/RI customer base.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm with significant retail brokerage operations across the Northeast. Comparable to Smith Insurance across personal, commercial, and specialty lines, though operating at vastly larger scale and global footprint.
• Acrisure: Fast-growing tech-enabled insurance brokerage with a heavy M&A rollup strategy that has absorbed many regional agencies. Comparable to Smith Insurance in product offering (personal and commercial lines) and as an active acquirer of agencies in Smith Insurance's size bracket.
• RPS Insurance Brokerage: Specialty-focused insurance brokerage serving retail agents and producers across the US. Comparable to Smith Insurance as a personal and commercial lines distributor, with overlap in serving regional agencies and small-commercial clients.
• Marsh McLennan: Global insurance brokerage and risk advisory giant with deep retail operations. Overlaps with Smith Insurance across personal and commercial lines but operates at enterprise scale; relevant as a competitive backdrop and potential acquirer of large books of business.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks4 records

Key highlights4 records

Customer concentration

• Xx.com/SmithInsures
• Facebookfacebook.com/SmithInsuranceNiantic
• LinkedInlinkedin.com/company/brown-brown
• Instagraminstagram.com/brownbrowninc

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Smith Insurance